Mousey
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Post by Mousey on Feb 6, 2022 11:45:13 GMT
A borrower who used the peer-to-peer lending platform Fundingsecure faces his multi-million pound counterclaim against its directors struck out as an abuse of process at the Court of Appeal. A link to my article can be found here: p2pindependentforum.com/post/446141
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adrian77
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Post by adrian77 on Feb 6, 2022 14:02:57 GMT
brilliant stuff Mousey - I think this bloke has some nerve after all the allegations (both criminal and civil made against him although as yet unproven I think); this strikes me as a delaying/spoiler tactic and nothing else - well we all know who his solicitor is...
Hopefully the years of "trading" this bloke has engaged in will soon come to an end - it took me about 20 seconds to find out about his "problematical" dealing which included compulsory strike-offs going back years and yet FS threw money at him ...
I don't think I would like this bloke if I met him in the building world...I hate to think how much his actions are going to cost us!
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agent69
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Post by agent69 on Feb 6, 2022 14:15:41 GMT
A borrower who used the peer-to-peer lending platform Fundingsecure faces his multi-million pound counterclaim against its directors struck out as an abuse of process at the Court of Appeal. A link to my article can be found here: p2pindependentforum.com/post/446141I guess one mans abuse of process is another mans technicality.
I can understand the concept of only having one bite at the cherry, but I wonder if there are in fact 2 seperate cherries here (which would allow the borrower to have a nibble at both).
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Mousey
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Post by Mousey on Feb 6, 2022 18:29:39 GMT
A borrower who used the peer-to-peer lending platform Fundingsecure faces his multi-million pound counterclaim against its directors struck out as an abuse of process at the Court of Appeal. A link to my article can be found here: p2pindependentforum.com/post/446141I guess one mans abuse of process is another mans technicality.
I can understand the concept of only having one bite at the cherry, but I wonder if there are in fact 2 seperate cherries here (which would allow the borrower to have a nibble at both).
Yeah indeed, it's a very complicated claim. I'm glad I'm not a judge! I should mention the court of appeal case is expected to start on Wednesday 9th February and last for 1.5 days. I would imagine there will be very little discussion about FundingSecure/Luxmore but lots of discussion about who knew what and when, and who said what and when. It might even be live streamed on the Court of Appeal Youtube channel although I'll try and get there in person.
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Mousey
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Post by Mousey on Feb 8, 2022 15:33:49 GMT
Date and time of appeal announced
It has been revealed that the appeal will be heard by three senior judges: Lord Justice Lewison, Lady Justice Simler and Lord Justice Snowden.
The hearing is expected to begin at 14.00 tomorrow and is understood to last 1.5 days.
The courtroom is equipped with broadcasting facilities and it may be that the case will be live streamed and stored on YouTube.
A request has been made for the parties written submissions.
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james100
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Post by james100 on Feb 8, 2022 18:14:22 GMT
Date and time of appeal announcedIt has been revealed that the appeal will be heard by three senior judges: Lord Justice Lewison, Lady Justice Simler and Lord Justice Snowden. The hearing is expected to begin at 14.00 tomorrow and is understood to last 1.5 days. The courtroom is equipped with broadcasting facilities and it may be that the case will be live streamed and stored on YouTube. A request has been made for the parties written submissions. Thank you for this. It is certainly scheduled but I guess specific YouTube link gets added tomorrow (info link added below). Wish I could be there in person! www.judiciary.uk/you-and-the-judiciary/going-to-court/court-of-appeal-home/the-court-of-appeal-civil-division-live-streaming-of-court-hearings/
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Mousey
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Post by Mousey on Feb 8, 2022 19:24:13 GMT
Yep, the RCJ list indicates it will be live streamed.
I doubt it will be terribly exciting. They'll be no live witness evidence and lots of references to paperwork we can't see. "My Lord will see paragraph 12.7 of my learned friends skeleton argument. We disagree with the second word". I expect a written Judgment will be handed down between 1 and 12 weeks after the hearing.
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Mousey
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Post by Mousey on Feb 9, 2022 15:46:51 GMT
Breaking: In the last few minutes Lord Justice Lewison ruled: "We are of the clear view that the part 20 claim is an abuse".
The borrower is therefore prevented from bringing his counter claim against the directors of FundingSecure. This is a major win for the members of the public who lent money through the platform.
The written decision will be handed down, I expect, in the next few weeks.
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adrian77
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Post by adrian77 on Feb 9, 2022 16:38:55 GMT
nice one - as I said only a cynic would wonder if this bloke's business plan is to borrow as much as he can , siphon most of it off, go into pre-planned administration and if that fails try to bully the claimants by legal shenanigans - clearly no evidence of that here....of course FS with their property experts tooks steps against such sharp practice...
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agent69
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Post by agent69 on Feb 9, 2022 17:00:46 GMT
nice one - as I said only a cynic would wonder if this bloke's business plan is to borrow as much as he can , siphon most of it off, go into pre-planned administration and if that fails try to bully the claimants by legal shenanigans - clerly no evidence of that here....of course FS with their property experts tooks steps against such sharp practice... I've been involved in P2P lending for many years, and have just realised that I've got it all wrong.
I always assumed that repaying the loan was a borrowers first priority, whereas in reality it appears to be a last resort.
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adrian77
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Post by adrian77 on Feb 11, 2022 13:59:51 GMT
this is now on youtube - click on above link and go to court 63....
had a vey quick look - not sure I can understand much of what is going on here - can I ask - is the QC next to the book shelf the one defending and the other chap with the glasses the one prosecuting? Also lot of interesting phrases - money laundering, collusion etc etc - it really strikes me this bloke is drowning and hoping to cling onto any passing pieces of wood no matter how flimsy... I really hope he goes to the legal equivalent of Davy Jones' locker...
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Mousey
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Post by Mousey on Feb 11, 2022 14:18:14 GMT
this is now on youtube - click on above link and go to courst 63.... had a vey quick look - not sure I can understand much of what is going on here - can I ask - is the QC next to the book shelf the one defending and the other chap with the glasses the one prosecuting? Also lot of interesting phrases - money laundering, collusion etc etc - it really strikes me this bloke is drowning and hoping to cling onto any passing pieces of wood no matter how flimsy... I really hope he goes to the legal equivalent of Davy Jones' locker... Neither counsel were QC's. The barrister nearest the camera represents Asertis, a company which bought the litigation rights from FS following administration. The dashingly handsome chap at the back with a laptop is me
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adrian77
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Post by adrian77 on Feb 12, 2022 13:10:04 GMT
Sorry my mistake - at least I got them the right way round...to be honest I thought the Asertis chap was much stronger
After another quick look at this I think I know what is happening - won't say as it will confuse people if I am wrong but I think basically C***** not only lost but appeared in a very bad light?
Seems to be at least legal 9 people here - hate to think what that is costing!
Hopeflly C****** assets will be seized and there will be be enough for all of Asertis' fee and our pre-arranged percentage? I am learning a lot with this case so thanks for your efforts
To be honest seeing C****** go down will make me feel a lot better!
Fame at last Mousey!
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adrian77
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Post by adrian77 on Feb 12, 2022 13:37:11 GMT
update to my last post if you go to the Youtube link above and click on "show more" under the video heading I think that well describes what is going on here useful for us who aren't familiar with Tomlin Orders, Henderson Abuse,Part 20 claim etc etc....
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Mousey
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Post by Mousey on Feb 12, 2022 16:01:03 GMT
I've also just realised I'm mentioned three times in the borrowers skeleton argument
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